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Managed Services Market Size to Grow by USD 834.7 Billion till 2032, with 11.9% CAGR



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New York, May 02, 2023 (GLOBE NEWSWIRE) — The global managed services market size is expected to be worth around USD 834.7 Billion by 2032 from USD 278.9 Billion in 2022, growing at a CAGR of 11.9% during the forecast period from 2022 to 2032. The process of assigning particular business or IT functions to a different service provider is referred to as “outsourcing” in the managed services market. These services are often provided via subscription, and the provider is in charge of ongoing management and maintenance. Managed services include a wide range of IT services, including help desk and support services, network and security management, software as a service (SaaS) offerings, and data backup and recovery.

Managed Services Market

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Key Takeaway:

  • Based on the solution, in 2022, the managed services market was dominated by the managed data center segment in the managed services market.
  • Based on enterprise size, in 2022, the large enterprise segment dominated the largest market share in the enterprise size segment.
  • Based on managed information services, in 2022, business process outsourcing holds the market share in the managed services market.
  • Based on deployment, in 2022, the on-premise segment is the most lucrative in the market.
  • Based on end-use, in 2022, the BFSI segment accounted for the largest revenue share in the managed services market.
  • In 2022, North America dominated the market with the highest revenue share of 36.6%.

Factors affecting the growth of the managed services Market?

There are several factors that can have an impact on the growth of the managed services market, including:

  • Increasing Complexity of IT Systems: Companies are having a harder time managing IT systems internally as they get more complicated. Organizations may manage these complex systems more effectively and efficiently with the help of managed services providers, who lend their experience and resources.
  • Cost Savings: Maintaining an internal IT department can often be more expensive than outsourcing IT services to managed service providers. Economies of scale and access to specialized knowledge that might be too expensive to keep in-house are two benefits that managed services companies can give.
  • Scalability: In order to adapt their IT infrastructure to changing business needs, organizations can swiftly and easily work with managed services providers. For organizations that face seasonal or demand shifts, this may be especially crucial.
  • Access to New Technologies: In addition to providing clients with access to new technologies that they might not have the knowledge or resources to deploy internally, managed services providers keep up with the most recent technology and trends.
  • Increased Focus on Core Business Functions: Businesses can concentrate on their core strengths by outsourcing IT services to managed services providers rather than devoting time and resources to managing IT infrastructure.

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Top Trends in Managed Services Market

Managed services companies are growing the breadth of security services they offer as a result of the sophistication and prevalence of cybersecurity threats. Threat detection and response, vulnerability analyses, and security consultancy are a few examples. Automation and artificial intelligence (AI) technologies are being widely used by managed service providers to increase the effectiveness and caliber of their offerings. This may involve automating repetitive IT operations to free up workers for more strategic work or deploying AI-powered chatbots to provide customer support. Managed services companies are providing services to assist organizations in managing and securing their IoT devices and data as more gadgets are connected to the internet. Services like device management, data analytics, and predictive maintenance may fall under this category. To hasten the creation and distribution of software, several firms are implementing DevOps techniques and agile development processes. Continuous integration and continuous deployment (CI/CD), as well as containerization, are services that managed service providers are providing to enable these methodologies.

Market Growth

The market for managed services has shown rapid expansion in recent years and is predicted to continue doing so in the years to come. The managed services market is expanding as a result of various factors. One major factor is the complexity of IT systems, which is why so many companies are turning to managed service providers for their experience and resources. Additionally, businesses of all sizes are becoming more interested in these services due to the cost advantages involved with outsourcing IT tasks to managed service providers.

Regional Analysis

North America is accounted as the most dominant market in the global managed services market with a market share of 36.6%, during the forecasted period. Due to the widespread use of cloud-based services and the demand for cybersecurity solutions, North America is the region with the greatest market for managed services. Major players’ presence in the area also aids in its development.

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Scope of Report

Report Attribute Details
Market Value (2022) US$ 278.9 billion
Market Size (2032) US$ 834.7 billion
CAGR (from 2023 to 2032) 11.9%
North America Revenue Share 36.6%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Organizations may benefit from more scalability and flexibility because of managed services. It is simple to scale up or down managed services as an Organization expands and its IT requirements change. Organizations may guarantee that their IT systems are secure and comply with industry laws by working with managed services providers, who frequently have specialized experience in security and compliance. The complexity of IT environments growing ever-more sophisticated is one of the primary reasons driving the managed services market. As Organizations adopt cutting-edge technologies like big data, cloud computing, and the Internet of Things, they frequently struggle to manage and sustain these complex environments.

Market Restraints

Data security is one of the main issues that organizations have while outsourcing IT activities. Data breaches and cyber-attacks are always a possibility, even though managed service providers frequently have a strong focus on security and compliance. Organizations can be more reluctant to outsource IT services that deal with sensitive data, as data becomes more valuable. Managed services can help businesses save money, but at the same time, they can also be expensive. The expense of managed services may outweigh the advantages for certain businesses.

Market Opportunities

Managed security services cover things like threat detection and response, vulnerability management, and identity and access management. The increasing complexity of IT systems and the skills shortage in the industry are what is driving the demand for managed services. While increasing the effectiveness of their IT operations, Organizations are looking for ways to cut costs and downtime. Managed services provide a range of services, including network and infrastructure management, application management, and service desk support. The demand for managed services is also being fueled by the increased desire for digital transformation.

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Report Segmentation of the Managed Services Market

Solution Insight

The managed data center holds a significant share in the solution segment which is 17.3% in 2022. Businesses can benefit from managed data centers’ reduced costs, improved dependability, scalability, flexibility, security, compliance, and round-the-clock support. By outsourcing their IT infrastructure and equipment to a third-party organization that runs and maintains the data center facilities, businesses may focus on their core businesses while leaving the management and maintenance of their IT systems to the experts.

Enterprise Size Insight

Managed services market share is dominated by the large enterprise segment with a share of 54.6%. Managed services offer some advantages for large enterprises, including cost savings, better adaptability, and improved operational efficiency. Large companies usually have complex IT systems and extensive data networks, which are challenging to operate correctly without professional knowledge and resources.

Managed Information Service Insight

Business process outsourcing holds a significant share in managed information service segment i.e., 37.4% in 2022. Various processes, including supply chain management, accounting, and customer support, may be included in BPO. BPO-managed service providers (MSPs) can provide their customers with a range of solutions to enhance corporate operations and help them achieve their strategic goals.

Deployment Insight

Managed services market share is dominated by the on-premises segment with a share of 67.2% in 2022. In the managed services industry, a deployment technique referred to as “on-premise deployment” entails installing and managing IT infrastructure and applications on a business’s actual premises. In this method, rather than utilizing a cloud-based solution, the managed services provider (MSP) deploys and manages the hardware and software inside the company’s own data center or server room.

End-Use Insight

The BFSI holds a significant share in the end-use segment with a market share of 18% in 2022. One of the biggest end-users in the IT business is the BFSI sector, which stands for banking, financial services, and insurance. Given the increased demand for dependable and secure financial services, BFSI is always deploying new technology to keep one step ahead of the competition. For the BFSI industry, managed services are a fantastic answer. They provide services like application management, security management, and infrastructure and network management.

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Market Segmentation

Based on Solution

  • Managed Data Center
  • Managed Network
  • Managed Mobility
  • Managed Infrastructure
  • Managed Backup and Recovery
  • Managed Communication
  • Managed Information
  • Managed Security

Based on Enterprises Size

  • Small & Medium Enterprises
  • Large Enterprises

Based on Managed Information Service

  • Business Process Outsourcing
  • Business Support Systems
  • Project & Portfolio Management
  • Other Services

Based on Deployment

  • On-premise
  • Hosted

Based on End-Use

  • BFSI
  • Government
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Media & Entertainment
  • Retail
  • Other End-Use Industries

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

Due to the large range of services provided by numerous different Organizations, the managed services market is highly fragmented. Cisco Systems, Inc., Dell Technologies, Inc., Tata Consultancy Services Limited, Atos SE, Cognizant Technology Solutions Corporation, Wipro Limited, and Infosys Limited are a few other well-known market participants. These Organizations provide a wide range of services, including administration of IT infrastructure, cloud computing, and cybersecurity. To remain competitive, many managed service providers increase the variety of their offerings. Modern innovations like artificial intelligence, the Internet of Things, and solutions created for certain industries are among them.

Key Market Players:

Listed below are some of the most important Managed Services industry players.

  • International Business Machines Corporation
  • Accenture PLC
  • Alcatel-Lucent Enterprise
  • AT&T Inc.
  • Avaya Inc.
  • Ericsson
  • Fujitsu Limited
  • Lenovo Group Limited
  • BMC Software, Inc.
  • CA Technologies
  • Cisco Systems, Inc.
  • Other Key Players

Recent Developments of the Managed Services Market

  • In September 2022, Apcela, a provider of software-defined networking, was purchased by Hewlett Packard Enterprise (HPE), according to an announcement. Through the acquisition, HPE will be able to strengthen its networking capabilities and provide greater connectivity to its customers.
  • In August 2022, Cisco Systems revealed that it had purchased CloudKnox, a provider of cloud security. The acquisition will enable Cisco to enhance its cloud security services and better safeguard the cloud environments of its clients.

Browse More Related Reports:

  • Managed Security Services (MSS) Market size is expected to be worth around USD 74.2 Billion by 2032 from USD 25.9 Billion in 2022, growing at a CAGR of 11.40% during the forecast period from 2023 to 2032.
  • Managed M2M Services Market was valued at US$ 15,686.4 Mn in 2018 and is projected to increase significantly at a CAGR of 27.00% of between 2019 and 2028
  • Air Ambulance Market was valued at USD 17.5 Billion and is expected to grow to USD 47.1 Billion in 2032. In 2023 and 2032, this market is estimated to register the highest CAGR of 10.7%.
  • Healthcare cloud computing market size could reach USD 201.1 billion by 2032 from USD 41.4 billion in 2022; with compounded annual growth estimated at 17.6% over this time frame from 2023-2032.
  • IT Professional Services Market in the global market was worth USD 776,210 million in 2021. This market is expected to experience a CAGR of 9.8% between 2023-2032.
  • Iaas/Hosting Infrastructure Services Market is expected to grow at a CAGR of roughly 22.0% over the next ten years and will reach US$ 219,703.1 Mn in 2028, from US$ 30,077.2 Mn in 2018.

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Artificial Intelligence

Cisco Doubles Down on Network Assurance with AWS




News Summary: 
Cisco delivers seamless integration between ThousandEyes and Amazon CloudWatch Internet Monitor.ThousandEyes’ unmatched cloud and Internet visibility combined with AWS’s Internet health and performance insights will allow a complete view of an application’s entire service delivery path, across private environments, the public Internet and into AWS’s network.Customers benefit from new operational insights and recommendations enabling them to optimize deployments and assure exceptional digital experiences for any AWS-hosted application.LAS VEGAS, Nov. 28, 2023 /PRNewswire/ — AWS re:Invent — Today at AWS re:Invent 2023, Cisco (NASDAQ: CSCO) announced new integrations between Cisco ThousandEyes and Amazon CloudWatch Internet Monitor (CWIM), a new Internet monitoring service from Amazon Web Services (AWS). The first-of-its-kind integration empowers customers with unparalleled visibility into their cloud deployments, enabling them to deliver unmatched optimized digital experiences.

With this new integration, customers can leverage operational insights to ensure optimal placement of AWS instances and monitoring coverage based on user traffic profiles. This integration comes on the heels of ThousandEyes announcing AWS Network Path Enrichment, giving customers deeper visibility into AWS by enriching ThousandEyes Path Visualization with data from AWS data sources—helping customers work more collaboratively with providers to resolve issues that are impacting application performance.
Building upon the existing relationship between AWS and Cisco, the new integration demonstrates Cisco’s deep commitment to its end-to-end network assurance vision. Cisco securely and sustainably connects everyone to everything and assures the digital experience of every one of those connections. By working with AWS, Cisco is delivering on its promise to provide visibility into every domain that impacts digital experience—whether user, enterprise, Internet, or cloud—so it can ultimately provide artificial intelligence (AI)-driven insights, recommendations, and remediations to support the digital transformation of every customer, wherever they are on their journey. 
“Since launching one year ago, Amazon CloudWatch Internet Monitor has delivered real-time insights into the traffic and performance of our customers’ AWS VPCs, CloudFront distributions, and Workspaces towards Internet destinations. In-depth Internet visibility is critical to our customers, so we’re excited to combine forces with ThousandEyes to provide a comprehensive view of Internet health.” — Robert Kennedy, VP of AWS Border Network Engineering, AWS
“Connectivity is key to Sutherland’s business model and to our customer interactions. Cloud visibility is a big part of that and with ThousandEyes’ end-to-end visibility all the way from our employees’ home environments to AWS, we’re able to quickly catch and resolve issues which allows us to deliver consistent high-quality application experiences to both our employees and customers.”—Ted Sanfilippo, VP Infrastructure, Head of Global Network Services and GTOC, Sutherland
“Customers today need to assure digital experiences over any network—the ones they own and the ones they don’t. As the leader in Internet visibility, Cisco is on a mission to deliver unmatched, end-to-end network assurance. Today’s integration with AWS demonstrates our shared commitment to empower our customers to more effectively monitor and manage their cloud environments.”— Mohit Lad, Senior Vice President and General Manager, Network Assurance, Cisco, and Co-Founder, ThousandEyes
For more information and live demos visit ThousandEyes at AWS re:Invent at booth #1621. Join our Lightning Talk on the exhibit floor: NET102-S, “Extending ThousandEyes visibility to the AWS network,” November 28 at 3:30 PM – 3:50 PM (PDT)
The Amazon CloudWatch Internet Monitor integration will be available in Cisco ThousandEyes in spring 2024. The ThousandEyes platform is available for purchase today in AWS Marketplace.Additional Resources
ThousandEyes Announcement BlogAWS Marketplace: CiscoCisco at AWS re:Invent 2023Additional Cisco news at AWS re:InventAbout CiscoCisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
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Artificial Intelligence

Artificial Neural Network Market to Reach $1.4 Billion by 2032 at 19.9% CAGR: Allied Market Research




The growing demand for AI-based solutions and the rising need for intelligent business processes are expected to drive the global artificial neural network market growth.
NEW CASTLE, Del., Nov. 28, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Artificial Neural Network Market by Component (Solution and Service), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry (Healthcare, BFSI, Retail and E-commerce, Manufacturing, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032”. According to the report, the artificial neural network industry generated $227.8 million in 2022 and is anticipated to generate $1.4 billion by 2032, witnessing a CAGR of 19.9% from 2023 to 2032.

Prime determinants of growth
The notable factors positively affecting the artificial neural network market include the growing demand for AI-based solutions and the rising need for intelligent business processes. However, a lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN) can hinder market growth. Furthermore, advancements in big data analytics and the availability of high-performance computing systems offer lucrative market opportunities for the market players. 
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Report coverage & details:
Report Coverage
Forecast Period
Base Year
Market Size in 2022
$227.8 Million
Market Size in 2032
$1.4 Billion
19.9 %
No. of Pages in Report
Segments covered
Component, Deployment Mode, Enterprise Size Industry, and Region.
Growing demand for AI-based solutions
The rising need for intelligent business processes
Advancements in big data analytics.
The availability of high-performance computing systems.
A lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN)
Buy this Complete Report (450 Pages PDF with Insights, Charts, Tables, and Figures) at:
The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for less than two-fifths of the artificial neural network market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization which is one of the primary reasons enterprises are increasing their investment in the artificial neural network market. However, the services segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. The services segment is expected to witness the highest growth, as these services help to reduce the time and costs associated with optimizing systems in the initial phase of deployment. 
The on-premise segment to maintain its lead position during the forecast period
Based on deployment mode, the on-premise segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based artificial neural network solutions. However, the cloud segment is expected to portray the largest CAGR of 21.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.
The large enterprises segment to maintain its lead position during the forecast period
Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue, owing to the growing demand for artificial neural network solutions in large enterprises which is fueling the market growth in these enterprises. However, the small and medium-sized enterprises segment is expected to portray the largest CAGR of 22.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to the small and medium-sized enterprises organization.
The healthcare segment to maintain its lead position during the forecast period
Based on industry vertical, the healthcare segment accounted for the largest share in 2022, contributing for less than two-fifths of the artificial neural network market revenue, owing to the development of digital technologies in IT sector. However, the manufacturing segment is projected to manifest the highest CAGR of 24.3% from 2023 to 2032. The surge in implementation of automation trends and the increase in utilization of digital technology in this sector are expected to provide lucrative opportunities for the market.
North America region dominated the global artificial neural network market in 2022
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the artificial neural network market revenue.  The increase in the usage of artificial neural network solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.
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Competition Analysis:
Recent Product launches in the Artificial Neural Network Market
In April 2023, Google LLC launched a cloud-based automation toolkit for healthcare organizations and previewed Med-PaLM 2, a neural network capable of answering medical exam questions.In August 2021, IBM Corporation unveiled details of the upcoming new IBM Telum Processor designed to bring deep learning inference to enterprise workloads to help address fraud in real-time..Recent Partnerships in the Artificial Neural Network Market
In June 2023, Snowflake partnered with Microsoft to simplify joint customers’ artificial intelligence projects. A core focus of the collaboration is Microsoft’s Azure OpenAI Service. It provides cloud-based versions of OpenAI LP’s machine learning models, including GPT-4.In November 2021, Qualcomm Technologies partnered with Google Cloud, on Neural Architecture Search (NAS), enabling the companies to create and optimize AI models automatically rather than manually.Leading Market Players: –
Amazon Web Services Inc. Google Inc. Hewlett Packard Enterprise Development LP IBM Corporation Intel Corporation Microsoft Corporation NVIDIA Corporation Oracle Corporation Qualcomm Technologies Inc. Salesforce Inc.The report provides a detailed analysis of these key players in the artificial neural network market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int’l: +1-503-894-6022Toll Free: +1-800-792-5285UK: +44-845-528-1300India (Pune): +91-20-66346060Fax: [email protected]
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Artificial Intelligence

New process definition capabilities in PIMS further enhance quality assurance and “right -first-time” initiatives for pharma manufacturers




WOKING, England, Nov. 28, 2023 /PRNewswire/ — IDBS unveils new process definition templates in its latest release, PIMS 5.1. Process definition templates enable pharma manufacturers to template process steps and quality specifications for faster process definition set-up and improved harmonization across the manufacturing teams to further enhance quality assurance (QA) and “right-first-time” initiatives.

Providing contextualized access to aggregated manufacturing data, PIMS offers a single source of data truth for efficient gathering, sharing and analysis of critical manufacturing process and quality data to support continued process verification (CPV), investigations and process optimization.
This release builds on recent PIMS’ process definition enhancements that added process definition versioning and approvals to help alleviate manual standard operating procedure (SOP) requirements and enhance QA for a more robust GxP environment.
PIMS’ customers report that these standardized process definition templates will reduce their manual process definition set-up and enable easy, harmonized site and product comparisons.
“Our customers recognize the value of being able to trace their process data over time, not only for tech transfer but also to help them learn from their historical data and optimize future process development,” says Pietro Forgione, General Manager at IDBS. “Having their critical process data in PIMS already gives them the assurance of data integrity and these new enhancements now make it even easier to complete QA and validation steps and move them closer to ‘right-first-time’ manufacturing.”
To learn more, register for the December 6 webinar here.
About IDBS
IDBS helps BioPharmaceutical organizations accelerate the discovery, development and manufacturing of the next generation of life-changing therapies that advance human health worldwide. From lab through manufacturing, IDBS leverages its 30+ years of experience working with a diverse list of customers – including 18 of the top 20 global BioPharma companies – and deep expertise in scientific informatics and process data management to tackle today’s most complex challenges.
Known for its signature IDBS E-WorkBook product, IDBS has extended solutions across the entire value chain for BioPharma Lifecycle Management (BPLM). Built on analytics-centric and cloud-native technology, IDBS Polar and Skyland PIMS platforms are powered by a digital data backbone to drive faster and smarter decisions in drug development and across the supply chain.
Learn more at
MEDIA ENQUIRIES e |  [email protected] 
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